海南无量资本：量化私募行业正从“单一资产量化”走向“多资产量化”的新阶段

Core Viewpoint - The article discusses the evolving landscape of quantitative private equity in 2025, highlighting a shift from single-asset strategies to multi-asset strategies, driven by macroeconomic factors and the integration of AI technologies in trading [5][6]. Industry Trends - The quantitative private equity sector is experiencing a structural change characterized by high volatility and strong differentiation in the market, necessitating a transition to multi-asset quant models that incorporate macroeconomic factors [6]. - The competition in the quantitative space is intensifying, with firms focusing on enhancing strategy resilience and diversifying asset classes to manage risks effectively [7][8]. Performance and Growth - The management scale of Hainan Wuliang Capital increased from 930 million to 2.48 billion by the end of 2025, with a significant portion allocated to macro multi-asset strategies [6][7]. - The total capacity for macro multi-asset strategies is currently 8 billion, indicating a robust growth trajectory and a focus on optimizing underlying strategies for stability [7]. Future Outlook - The firm anticipates that the global liquidity will remain loose in 2026, but geopolitical tensions and market style shifts may increase volatility, making investment more challenging [7]. - The future direction of private equity is likely to be a combination of quantitative and macro multi-asset strategies, reflecting a broader trend observed in developed markets [8][9]. Market Comparisons - The article draws parallels between the development of the asset management industry in the U.S. and the current trajectory of China's private equity sector, noting the significant growth in public ETF sizes and the shift towards quantitative strategies [9].